Preliminary Financial Results for Third Quarter of Fiscal Year 2007
08 August 2007 - 11:00PM
Business Wire
Verigy Ltd. (NASDAQ:VRGY), a premier semiconductor test company,
today reported preliminary financial results for its fiscal third
quarter, ended July 31, 2007. Revenues for the quarter are expected
to be in the range of $201 million to $203 million. This falls
within the guidance range of $195 million to $205 million given by
the company on May 24, 2007. The book-to-bill ratio for the quarter
is expected to be at least 1.0. GAAP and non-GAAP earnings per
diluted share for the fiscal third quarter are also expected to
fall within the previously provided guidance range. The company
expects GAAP EPS to be $0.43 to $0.48 per diluted share, and on a
non-GAAP basis, EPS to be $0.45 to $0.50 per diluted share after
excluding $1 to $1.5 million of charges related to separation and
restructuring in connection with Verigy�s spin-off from Agilent
Technologies last year. The company will release its full financial
results for the third fiscal quarter after the close of the market
on Wednesday, Aug. 22, 2007. Additional details on Verigy�s third
quarter results will be presented in a conference call with
investors on Wednesday, Aug. 22, 2007 beginning at 1:30 p.m.
(Pacific). Additional details of the call and webcast will be
provided with the full financial results. About Verigy Verigy
designs, develops, manufactures, sells and services advanced test
systems and solutions for the memory and system-on-chip segments of
the semiconductor industry. Verigy�s scalable platform systems are
used by leading semiconductor companies worldwide in design
validation, characterization, and high volume manufacturing test.
Formerly part of Agilent Technologies, the company began doing
business as Verigy on June 1, 2006 and completed its initial public
offering on June 13, 2006. Information about Verigy can be found at
www.verigy.com. Forward-Looking Statements This earnings release
contains forward-looking statements, including statements regarding
Verigy�s expected results for the third quarter. These
forward-looking statements are based on current information and
estimates, and are not guarantees of future performance or events.
These statements reflect preliminary results and are subject to a
number of risks and uncertainties that could cause actual results
to differ materially from those in the forward-looking statements,
including the inherent uncertainties of preliminary financial
results, and unexpected developments occurring in connection with
closing and reviewing our financial statements for the quarter.
Information About Non-GAAP Measures Our management uses non-GAAP
measures to evaluate the operating performance of the company. By
eliminating the separation and restructuring charges associated
with Verigy�s spin-off from Agilent Technologies, management
believes it is better able to assess the operating performance of
the business. Since management finds the non-GAAP information to be
useful, we believe that our investors also benefit from seeing our
results �through the eyes� of management in addition to seeing our
GAAP results. This information also facilitates our management�s
internal comparisons to our historical operating results as well as
to the operating results of our competitors. Readers are reminded
that non-GAAP numbers are merely a supplement to, and not a
replacement for, GAAP financial measures. They should be read in
conjunction with the GAAP financial measures.
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